While Fern provides a platform for global money movement, concerns over its pricing structure and limited third-party integrations have led some users to explore other options. This article will explain what Fern is, detail the reasons you might seek an alternative, and present other solutions tailored to different business needs.
What is Fern?
Fern is a financial platform that enables developers and businesses to facilitate global money movements across fiat, stablecoins, and cryptocurrencies. It operates in over 50 countries and offers a developer-friendly API for embedding onramps and offramps directly into applications.
A key feature is its Currency Multiplex System, which handles transactions across diverse financial systems. This, combined with integrated on/offramps, simplifies the conversion between crypto and fiat currencies for users.
What to Consider When Selecting a Fern Alternative?
When searching for a platform to replace Fern, it's important to weigh several factors to find the right fit for your business needs:
- Pricing Structure: Evaluate the platform's fee model, including monthly subscriptions, transaction costs, and any hidden charges, to ensure it aligns with your budget.
- Crypto and Fiat Support: Determine if the platform handles the specific currencies you use, from traditional fiat to various cryptocurrencies and stablecoins.
- Integration Capabilities: Check for compatibility with your existing software stack, such as accounting or payroll systems, to streamline your financial operations.
- Global Reach: Verify that the service supports transactions in the countries where your business, customers, or team members are located.
- Customer Support: Assess the quality and availability of customer service, as responsive support can be vital for resolving financial issues quickly.
If these considerations resonate with your priorities, explore the alternatives detailed in the next section to find a solution that works for you.
10 Best Alternatives to Fern
1. OneSafe
OneSafe is a finance platform designed to streamline banking for businesses, particularly those in the Web3 and crypto industries. We provide essential tools for effortless fund management, quick payments, and access to both traditional and digital assets.
Our platform enables straightforward 1:1 conversion from USD to USDC on Polygon, which simplifies payroll and expense management for global teams. We pride ourselves on our responsive customer support and reliable service, offering a banking solution that understands the needs of companies in the digital asset space.
Pricing
Here's a look at our straightforward pricing structure:
- Free Account Services: Enjoy free account opening and maintenance, no monthly subscriptions, no minimum balance, and free virtual and physical card issuance.
- Low-Cost Domestic Transfers: Move funds within the US for just 0.1% per transaction for ACH and standard wires, or a flat $25 for Fedwire.
- Competitive International Rates: We charge 0.2% for SEPA (EUR) payments and 0.2% plus a $50 SWIFT fee for other international wires.
- Minimal Crypto Fees: Benefit from a low 0.1% fee on USDT transactions and fiat-to-crypto conversions included at market rates with no hidden charges.
- Straightforward Card FX: Spend globally with your corporate card with a simple 3% foreign exchange fee on non-USD transactions.
Reviews
Users consistently praise our platform for simplifying complex financial operations and providing exceptional customer support. We're often described as a game-changer for businesses, especially those operating in the Web3 space.
- “OneSafe has the best customer support I've ever experienced from a bank.” - Amit Chu, Investments @ Celo Foundation
- “OneSafe is a game-changer. They solve so many headaches for our company. Finally a banking solution that gets it.” - Marco, CEO of Ensuro
Want a banking solution that gets it? Check us out here.
2. Wallester
Wallester is a financial technology company that provides corporate expense management solutions through virtual and physical Visa cards. Their platform is designed to assist businesses of various sizes with their financial operations.
The service offers real-time expense control, detailed financial reporting, and integrations with accounting software. It also includes instant virtual card issuance, multi-currency support, and advanced API integration.
Pricing
Here's their pricing at a glance:
- Free - Free Plan: Includes up to 300 virtual cards and unlimited physical card issuance, with no account or minimum balance fees.
- €0.20 per card per month - Additional Virtual Cards: For each card issued beyond the 300 included in the free plan.
- Custom Pricing - Premium Plans: For businesses that require more cards than the free plan allows.
Reviews
User reviews frequently comment on the platform's interface, financial reporting, and customer support, though some mention integration difficulties and technical support delays. Check out more Wallester reviews here.
3. Credem
Credem, also known as Credito Emiliano S.p.A., is an Italian banking institution founded in 1910. The bank offers a variety of financial services, including retail and corporate banking, insurance, and investment solutions.
It operates through several divisions, such as Credem Banca for retail, Credem Banca d'Impresa for corporate clients, and Credem Private Banking. One aspect of its business is accepting Parmigiano Reggiano cheese wheels as collateral for loans.
Pricing
Here's their pricing at a glance:
- From €4 per month - Account Maintenance: Fees for account maintenance start at €4 per month.
- Free - Card Issuance: There is no charge for card issuance.
- Free - ATM Withdrawals: Withdrawals at Credem ATMs are free.
- Custom - Investment Services: Investment services have custom pricing.
Reviews
User feedback indicates some concerns regarding card delivery delays, the availability of digital card options, and customer service responsiveness. Check out more Credem reviews here.
4. VIALET
VIALET is a Lithuanian Electronic Money Institution established in 2017, offering digital banking services for small and medium-sized enterprises. The company provides dedicated IBANs for SEPA, SEPA Instant, and SWIFT transactions, as well as card processing solutions for corporate clients.
The platform supports various payment methods, including C2B, B2B, and B2C, and offers banking APIs, mass payouts, and third-party integrations. VIALET also accepts payments from cryptocurrency processors and provides accounts for EU-licensed crypto exchanges.
Pricing
VIALET does not publicly disclose detailed pricing information on its website. To obtain an initial price list, interested parties must fill out an application, and final pricing is determined after a review process.
Reviews
User feedback indicates several areas of concern, including reports of unprofessional behavior and poor customer service. Some customers have also noted difficulties with the account opening process, citing excessive information requests and prolonged response times. Check out more VIALET reviews here.
5. Reap
Reap Technologies Limited is a financial technology company founded in 2018 that offers products to manage financial operations for businesses. Their offerings include the Reap Card, Reap Pay, and various API solutions.
The company's main product is a secured corporate credit card that permits bill repayments in both fiat and digital currencies. They also provide a payment service for making transactions in preferred currencies and embedded finance solutions for card issuing and global payouts.
Pricing
Here's their pricing at a glance:
- No Annual Fee - Reap Card: The card has no annual or hidden service fees.
- 1.2% Handling Fee - Stablecoin Repayments: Repayments made with stablecoins are subject to a 1.2% handling fee.
- 2% Fee - ATM Withdrawals & FX: A fee is charged for ATM withdrawals and foreign exchange transactions.
- Custom Pricing - API & Embedded Finance Solutions: Packages for card issuing, payment APIs, and compliance APIs are priced based on product usage.
Reviews
Some users have reported limitations in setting categories and issues with credit limit resets without prior notice, alongside concerns about customer service and financial standards. Check out more Reap reviews here.
6. Airwallex
Airwallex is a financial technology company founded in 2015 that provides a range of services for businesses. These services include cross-border payments, multi-currency accounts, expense management, and corporate cards.
The platform offers multi-currency accounts in over 20 currencies and provides foreign exchange rates with a markup above interbank rates. It also facilitates local transfers to numerous countries and integrates with accounting software like Xero and QuickBooks.
Pricing
Here's their pricing at a glance:
- Free - Explore Plan: This plan is for small businesses and is free for users who meet certain deposit or balance requirements. It includes multiple business accounts and free transfers to over 120 countries.
- $99 per month - Grow Plan: This plan includes all features of the Explore Plan, adding international batch transfers, expense management, and bill pay services.
- $499 per month - Accelerate Plan: This plan includes all features of the Grow Plan, along with centralized management of finances across global entities and single sign-on capabilities.
- Custom - Custom Plan: Pricing is tailored for high-volume businesses or those needing custom API implementations.
Reviews
User feedback points to challenges with customer service, account suspensions, and the Know Your Customer (KYC) process. Check out more Airwallex reviews here.
7. Tide Bank
Tide is a UK-based financial technology company established in 2015, providing mobile-first banking services for small and medium-sized enterprises. Its offerings include current accounts, automated bookkeeping, and integrated invoicing, with connections to accounting software like Sage and Xero.
The platform allows users to open an account through its app and offers built-in tools for accounting and tax management. Additionally, it supports cash deposits at UK Post Office and PayPoint locations and provides expense cards for team spending.
Pricing
Here's their pricing at a glance:
- No monthly fee Free Plan: This plan has no monthly fee, with charges of 20p per UK transfer and £1 per ATM withdrawal.
- £12.49 + VAT per month Smart Plan: This plan includes 25 free UK transfers, one free expense card, and priority in-app support.
- £24.99 + VAT per month Pro Plan: This plan offers unlimited free UK transfers, two free expense cards, and 24/7 phone and legal support.
- £69.99 + VAT per month Max Plan: This plan provides unlimited free UK transfers, three free expense cards, and a dedicated account manager.
- 3-month free trial: A free trial is available for paid plans.
Reviews
User reviews frequently comment on the platform's interface and account opening process, while some customers have noted challenges with customer support response times and issues related to account access. Check out more Tide Bank reviews here.
8. Mercury
Mercury is a financial technology company that provides online business banking services designed for startups and small businesses. The company offers FDIC-insured checking and savings accounts, corporate cards, and a range of financial management tools.
Its platform integrates bill pay, invoicing, and accounting automations into a unified dashboard. Mercury also allows U.S.-incorporated companies to open accounts without requiring founders to be U.S. residents and does not have minimum deposits, balance requirements, or monthly fees.
Pricing
Here's their pricing at a glance:
- Free - Mercury Plan: Offers essential banking services, including checking and savings accounts, corporate cards, bill pay, invoicing, and reimbursements.
- $35 per month - Mercury Plus: Includes all features of the Mercury Plan with additional reimbursement and invoicing capabilities.
- $350 per month - Mercury Pro: Encompasses all features of Mercury Plus, along with advanced workflows and dedicated support.
- Custom Pricing - Custom Solutions: Tailored plans and pricing are available for businesses with balances exceeding $10 million.
- Additional Fees: A 1% fee applies to non-USD currency conversions, and there are charges for treasury management and mass payments via API.
Reviews
User feedback on Mercury points to issues with account management, including sudden closures and fund freezes, as well as payment processing delays and inconsistent customer support. Check out more Mercury reviews here.
9. Countingup
Countingup is a UK-based company founded in 2017 that offers a business current account combined with integrated accounting software. The platform is designed to allow small businesses to manage their finances within a single application.
The service provides tools for instant invoicing, automatic expense categorization, receipt capture, and real-time tax estimates. These functions are intended to automate financial administration for business owners.
Pricing
Here's their pricing at a glance:
- £3 per month: For accounts with total monthly deposits up to £750.
- £9 per month: For accounts with total monthly deposits between £750 and £7,500.
- £18 per month: For accounts with total monthly deposits exceeding £7,500.
- Additional Fees: Transaction fees apply, including 30p for transfers, £1 for ATM withdrawals, and 3% for foreign transactions.
- Three-Month Free Trial: A three-month free trial is available.
Reviews
User reviews mention the platform's features and account setup. Some customers have noted issues with account suspensions, delays in fund transfers, and limited customer support. Check out more Countingup reviews here.
10. Brex
Brex is a financial technology company that provides a suite of services including corporate cards, expense management, and business accounts. These offerings are combined into a single platform to manage various financial operations.
The platform incorporates AI-powered custom rules, real-time reporting, and integrations with accounting software. It is designed to provide scalable financial solutions for startups, mid-sized companies, and large enterprises.
Pricing
Here's their pricing at a glance:
- Free - Essentials: This plan includes global card acceptance, AI-powered custom rules, accounting integrations, local currency wires, travel booking, real-time reporting, API access, bill pay, and reimbursements.
- $12 per user per month - Premium: This plan includes all Essentials features, plus multiple customizable expense policies, dynamic expense review chains, advanced approvals, multi-entity support, and customizable ERP and HRIS integrations.
- Custom Pricing - Enterprise: This plan includes all Premium features, along with unlimited US or global entities, local card issuance, a named account manager, and fully customizable implementation services.
Reviews
User feedback indicates some customers have experienced issues with customer service responsiveness and the resolution of complex queries. Other reported challenges include difficulties with receipt syncing and limitations in customizing expense categories. Check out more Brex reviews here.
Which One Should You Go With?
Choosing the right Fern alternative depends on your specific business needs, and any of the platforms listed can be a great fit. However, if you're looking for a financial partner that truly understands the digital asset landscape, we believe OneSafe is the standout choice. Ready to simplify your finances? Sign up for OneSafe today.
